Agriculture Equipment Market (By Product: Tractors, Harvesters, Planting Equipment, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment; By Application: Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, Post-harvest &Agro-processing) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20222030

The global agriculture equipment market size was valued at USD 155.65 billion in 2021, and is predicted to be worth around USD 235.04 billion by 2030, registering a CAGR of 5.01% during the forecast period 2022 to 2030.

Growth Factors

Increasing mechanization in the agriculture sector coupled with the surge in farmers’ income is expected to be a primary factor driving the growth. Favorable climatic conditions for food production and government support with loan waiver schemes for farmers of all income categories are also presumed to favor the market growth. Technologically advanced agricultural robotics, such as autonomous tractors and flying drones to help farmers produce food at low costs to fulfill the growing demand for food, are anticipated to be better prospects for market growth over the forecast period.

Shortage of labor worldwide particularly in Western Europe and the U.S. will play a key role in driving the adoption of agriculture equipment over the forecast period. Furthermore, shortage of labor in the field of agriculture equipment and telematics to monitor tractor performance and improve farm yield is also anticipated to propel the growth of the market. Apart from advancements in the agriculture equipment space and shortage of labor shortage, the growing population to meet the global food requirements will also be a major factor, increasing demand in the long term.

Report Coverage

By Product Analysis

The tractor segment accounted for the largest revenue share of over 30% in 2021, attributed to the labor shortage and the growing population to meet the global food requirements, which has made tractors a prerequisite for increasing productivity in the agriculture industry.

Asia Pacific and Latin America have also accelerated the growth. The emergence of electric tractors is anticipated to be a significant growth prospect for market participants.

The growth is ascribed to the cost-effectiveness coupled with electric tractors' eco-friendly and high-efficiency attributes. However, a lack of energy density to cater to large field operations is expected to hamper their adoption over the forecast period.

The harvester segment is anticipated to reach around USD 58.0 billion by 2030, recording a CAGR of over 6.0% over the forecast period. Innovations in harvesting equipment are anticipated to favor the growth of the segment over the next few years. 

Smart combine harvesters enable farmers to monitor the grain flow rate and better control harvesting applications. In light of these factors, farmers and contractors are inclined toward smart combine harvesters over conventional harvesters.

By Application Analysis

The land development and seedbed preparation segment accounted for over 20% of the revenue share in 2021 and is expected to expand at a significant CAGR of over 5.0% during the forecast period. The segment is inclusive of tractors, levelers, and agriculture implements.

The demand for agricultural tractors is gaining traction owing to numerous factors such as the increasing need for food propelling the need to mechanize farm work, availability of technologically advanced tractors, and increased urbanization causing a shortage in labor, forcing farmers to adopt machinery. This is anticipated to contribute to the growth of the overall market.

The adoption of tech-driven agriculture machinery such as robotics is also expected to fuel the demand for the farm machinery market in the forthcoming years. Furthermore, the preference for smart agriculture equipment is gradually picking up pace in countries such as India, Australia, and Southeast Asia, which is currently an emerging market.

By Regional Analysis

North America was valued at USD 35.1 billion in 2021 and is expected to register a CAGR of over 5.0% during the forecast period. The growth is primarily driven by the abundance of large farmland, which has led to high demand for farm mechanization.

The Middle East and Africa region was valued at USD 10.1billion in 2021 and is expected to record a CAGR of 2.0% over the forecast period. South Africa, Saudi Arabia, and UAE are notable markets in the region. The arid and semiarid countries in the Middle East with low and variable rainfall are likely to witness increased demand for irrigated and crop processing equipment over the forecast period.

Key Players

• AGCO Corporation

• FlieglAgro-Center GmbH

• Agromaster

• Amazone Inc.

• APV GmbH

• Bellota Agrisolutions

• CLAAS KGaAmbH

• CNH Industrial N.V.

• Deere & Company

• Escorts Limited

• HORSCH Maschinen GmbH

• ISEKI & Co., Ltd.

• J C Bamford Excavators Ltd

• Quivogne CEE GmbH (Kiwon RUS LLC)

• Rostselmash

• KRUKOWIAK

• KUBOTA Corporation

• KUHN SAS

• LEMKEN GmbH & Co. KG

• Mahindra & Mahindra Ltd.

• MascarSpA

• MaschioGaspardo S.p.A

• MaterMacc S.p.A

• Morris Equipment Ltd

• SDF S.p.A.

• Tractors and Farm Equipment Limited (TAFE)

• Väderstad AB

• Valmont Industries, Inc

Market Segmentation

• By Product 

  • Tractors

  • Harvesters

  • Planting Equipment

    • Row Crop Planters

    • Air Seeders

    • Grain Drills

    • Others

  • Irrigation & Crop Processing Equipment

  • Spraying Equipment

  • Hay & Forage Equipment

  • Others

• By Application 

  • Land Development & Seed Bed Preparation

  • Sowing & Planting

  • Weed Cultivation

  • Plant Protection

  • Harvesting & Threshing

  • Post-harvest &Agro-processing

• Regional

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Netherlands

    • Spain

    • Denmark

    • Russia

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • Singapore

    • South Korea

    • Taiwan

    • Australia

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Rest of Latin America

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • South Africa

    • Rest of Middle East & Africa

The agriculture equipment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of agriculture equipment market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global agriculture equipment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the agriculture equipment market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted agriculture equipment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the agriculture equipment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of agriculture equipment by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global agriculture equipment market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major agriculture equipment market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of agriculture equipment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the agriculture equipment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

agriculture equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to agriculture equipment market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of agriculture equipment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new agriculture equipment market. These factors have benefited the growth of the global market for agriculture equipment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for agriculture equipment. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of agriculture equipment are as follows:

• History Year: 2019-2021

• Base Year: 2022

• Forecast Year 2022  to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2019-2022) and forecast (2022-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.